Analysts Set AmerisourceBergen Corporation (Holding Co) (ABC) Price Target at $91.14
AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) has been assigned an average rating of “Buy” from the seventeen research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $91.95.
A number of analysts have commented on ABC shares. Needham & Company LLC upped their target price on shares of AmerisourceBergen from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Jefferies Group set a $95.00 target price on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Tuesday, August 29th. Robert W. Baird reaffirmed a “buy” rating and set a $96.00 target price on shares of AmerisourceBergen in a report on Monday, November 6th. Mizuho set a $92.00 target price on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Tuesday, October 24th. Finally, ValuEngine raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st.
Shares of AmerisourceBergen (NYSE:ABC) traded up $0.13 during trading on Friday, reaching $84.95. 3,188,500 shares of the company were exchanged, compared to its average volume of 1,795,807. The company has a market capitalization of $18,526.06, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. AmerisourceBergen has a 12 month low of $71.90 and a 12 month high of $97.85. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83.
AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The business had revenue of $39.12 billion during the quarter, compared to analysts’ expectations of $40.10 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. equities research analysts predict that AmerisourceBergen will post 6.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 17th. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.79%. AmerisourceBergen’s dividend payout ratio is 82.16%.
In other news, insider Dale Danilewitz sold 1,857 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $74.69, for a total value of $138,699.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total transaction of $921,852.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,807 shares of company stock valued at $12,316,290. Corporate insiders own 27.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Burgundy Asset Management Ltd. increased its stake in shares of AmerisourceBergen by 1.9% in the third quarter. Burgundy Asset Management Ltd. now owns 2,698,948 shares of the company’s stock worth $223,338,000 after purchasing an additional 49,825 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in AmerisourceBergen during the third quarter valued at $364,000. Coastline Trust Co grew its stake in AmerisourceBergen by 37.2% during the third quarter. Coastline Trust Co now owns 2,950 shares of the company’s stock valued at $244,000 after acquiring an additional 800 shares in the last quarter. Gyroscope Capital Management Group LLC grew its stake in AmerisourceBergen by 9.3% during the third quarter. Gyroscope Capital Management Group LLC now owns 67,695 shares of the company’s stock valued at $5,602,000 after acquiring an additional 5,773 shares in the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in AmerisourceBergen during the third quarter valued at $406,000. 67.83% of the stock is owned by hedge funds and other institutional investors.
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AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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